Itanagar, May 6, 2019
The Arunachal Pradesh government has debarred as many as 10 banks from all state government transactions citing “poor performance” in the credit-deposit ratio and lending in priority sectors.
The following banks: Yes Bank, ICICI Bank, Axis Bank, Bandhan Bank, Indusland Bank, Vijaya Bank, Bank of Baroda, Union Bank, Central Bank of India, Canara Bank have been officially prohibited from the state government transactions.
As per an order by the Department of Urban Development and Housing, Itanagar stated that the funds already deposited in these banks should be withdrawn and deposited in other nationalized banks.
“No bank accounts shall be opened in any of the above banks and the bank accounts maintained in these banks may be closed immediately,” reads an order.